Construction major to invest $8.3 bn in Gujarat projectsJanuary 12th, 2009 - 10:03 pm ICT by IANS
New Delhi, Jan 12 (IANS) A leading construction and infrastructure development company Monday signed deals worth $8.3 billion with the Gujarat government to develop a water front city and three pipeline projects in the state.The first memorandum of understanding (MoU) has been signed between the Hindustan Construction Company (HCC) and the Gujarat Infrastructure Development Board to develop a water front city at a total investment of $8 billion while the second MOU was signed with the water department of the state for developing three water pipeline projects worth $300 million.
The water front city will be developed over 4,000 acres in Dholera special investment region (SIR), some 129 km from Ahmedabad, which is in the influence area of the Delhi-Mumbai Industrial Corridor (DMIC).
“The concept of new urbanism is gaining momentum globally and we are happy to initiate this modern and sustainable water front city in Gujarat, based on this model,” said Ajit Gulabchand, chairman and managing director of HCC.
The MoU signed for developing three water pipelines envisages inter-basin transfer of water from the main Narmada canal to various reservoirs such as the Dharoi reservoir in Mehsana district, Dantiwada reservoir in Banaskantha district and Sipu reservoir in Banaskantha district.